Remove 2016 Remove Net Zero Remove Paris Agreement
article thumbnail

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020

GreenBiz

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.

Net Zero 398
article thumbnail

Use of Employee Incentives to Hit Climate Goals More than Doubles Over Past Year: Accenture

ESG Today

While companies are increasingly adopting emissions reduction measures, however, the report found that less than one in five are on track to hit net zero emissions in their operations by 2050. over the prior year, after growing from 27% in 2021. over the prior year, after growing from 27% in 2021.

Net Zero 120
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fossil fuel expansion will be the litmus test for banks’ net-zero promises

Corporate Knights

Many of the world’s biggest banks face the enormous challenge of realigning their entire loans and investment operations in the coming years to put themselves on a credible path to achieve net-zero carbon emissions by 2050. “We Ultimately, best practices come down to are we seeing year-over-year changes in their capital flows?”.

Net Zero 246
article thumbnail

Breakthrough International Agreement Reached at COP29 to Advance Global Carbon Market

ESG Today

of the Paris Agreement, key for advancing the establishment and growth of a global carbon market. The consensus agreed to in Baku will also be a key element in final approval of Article 6 of the 2016 Paris Agreement , which will establish an international carbon credit market. But there is much more to deliver.”

article thumbnail

Over 75% of Companies Have Cut Emissions Intensity Since Paris Agreement: Accenture

ESG Today

For the study, Destination Net Zero, Accenture examined the 2,000 largest public and private companies by revenue globally, analyzing their net zero commitments, decarbonization levers and track records of reducing operational Scope 1 and 2 greenhouse gas emissions.

article thumbnail

Investors crank up the heat on bank fossil fuel financing

Corporate Knights

According to a new report, just 7% of bank funding has gone towards renewable energy between 2016 and 2022 , while the world’s banks continued to plow trillions of dollars into fossil fuel expansion. “The total amounts of clean energy financing in these years remained abysmally low: US$23.2 billion in 2016 and $34.5

Banking 351
article thumbnail

The 25 most sustainable private companies in the world

Corporate Knights

Reaching net-zero as we grow remains vital. The company aims to achieve net-zero emissions by 2050, in line with the Paris Agreement, largely by helping its customers switch to electric vehicles. Go-Ahead Group Ltd Net-zero-aligned transporter Go-Ahead is a U.K.-based

Net Zero 214